Archive for August, 2008

29
Aug
08

Coffee Republic results

Coffee Republic, announces its preliminary results for the year to March 30:

Key Points:

* The number of total outlets has more than quadrupled, to 193 since the beginning of the 2008 financial year (26 march 2007) driven by a large growth in concession outlets.

* The number of franchise units has doubled, to 53, in the same period. There are now 69 full service stores, including company owned, in the U.K.

* There are ten international stores now open, principally in the Middle East and Eastern Europe with roll out commitments for more than 200 stores over the next five years.

* CEO to move to vice – chairman and maintains major shareholding as the business enters a phase of consolidation and refinement.

* Like for like sales for the total network for the quarter ended Jun. 29, 2008 are 2.5% positive driven by a strong performance from the franchise bar portfolio.

Preliminary Results- Financial

* Financial results show a net loss of GBP2.50 million (2007: GBP2.42 million) with GBP0.7 million of fixed asset impairments and loss on disposal.

* Reported sales down 39.8% to GBP5.8 million following the conversion to franchising. Total network sales grew 9.0%, based on U.K. franchises and Company stores.

* A further GBP620,000 repaid to the bank during the year.

* Operating losses stable at GBP1.6 million with the company absorbing unexpected costs of circa GBP200,000 and taking a bad debt impairment of GBP191,000.

Coffee Republic said Friday for the year ended March 30 it made a pretax loss of GBP2.5 million compared to a loss of GBP2.4 million in the same period last year.

Chairman, Peter Breach, said: “After a phase of substantial change the Company is now entering a period of consolidation and refinement of processes and procedures to provide the platform for the business to benefit from the foundations laid over the past two years.

“The business of the Company, being the provision through franchisees or directly, of coffee and related consumables in a friendly and enjoyable environment does not appear from evidence to date to have suffered noticeably from the effects of the serious economic downturn in the U.K.

“The task of turn-around has been more onerous than first anticipated but I believe the Company is now in a position to grow successfully and I trust this will justify shareholder confidence in the future.”

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23
Aug
08

Coffee Republic opens at the Quality Crown Hotel Kensington

Quality Crown Hotel Kensington now houses a brand new coffee republic.

22
Aug
08

Coffee Republic in Cineworld

Statement by Stephen Wiener, Chief Executive Officer of Cineworld Group Plc,

“Retail sales for the first half of the year were in line with expectations given the level of business. The introduction of the Coffee Republic brand of freshly ground coffee has been successful and we expect this to continue going forward”.

21 August 2008

18
Aug
08

New store in Bury

Andrew and Richard Liles have opened a new Coffee Republic in Bury. Situated close to the Mill Gate Shopping Centre at: 5 Kay Gardens, 15 Market Street, Bury, BL9 0BL.

18
Aug
08

Coffee Republic arrives in Kuwait

Just arrived from London to Kuwait, Coffee Republic, opened this week serving a wide range of HOT and COLD drinks in addition to freshly baked bread and pastries and freshly made sandwiches.

CR is Now open at the Universal Tower at the Derwaza, Ahmed Al-Jaber Street and will have more branches soon at the free trade zone, Salmiya and Highway restaurants area at Mina Abdulla.

15
Aug
08

Notification of major interest in shares

14th August 2008

Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Coffee Republic Plc.

2. Reason for notification – An acquisition or disposal of voting rights.

3. Full name of person subject to notification obligation: Mohammed Hanif Khoda.

4. Full name of shareholder(s) (if different from 3): Fitel Nominees Limited.

5. Date of transaction (and date on which the threshold is crossed or reached if different): 04/07/08.

6. Date on which issuer notified: 05/07/08.

7. Threshold(s) that is/are crossed or reached: 7%

8: Notified Details

Situation previous to the triggering transaction: shares: 36,000,981- voting rights: 36,000,981

Resulting situation after the triggering transaction: shares: 47,500,981- voting rights: 47,500,981(7.59%)

04
Aug
08

Master Franchise Agreements signed to date

  1. Bahrain
  2. Bulgaria
  3. Ireland
  4. Jordan
  5. Kuwait
  6. Malta
  7. Oman
  8. Romania
  9. Saudi Arabia
  10. Turkey
  11. United Arab Emirates